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  • UBS agrees to buy Credit Suisse as regulators look to shore up the global banking system

    From cnbc.com

    UBS agreed to buy its embattled rival Credit Suisse with Swiss regulators playing a key part in the deal as governments looked to stem a contagion threatening the global banking system. “With the takeover of Credit Suisse by UBS, a solution has been found to secure financial stability and protect the Swiss economy in this exceptional situation,” read a statement from the Swiss National Bank, which noted the central bank worked with the Swiss government and the Swiss Financial Market Supervisory Authority to bring about the combination of the country’s two largest banks. The Swiss National bank pledged a loan of ... (full story)

Added at 3:21pm
  • UBS Agrees to Buy Credit Suisse for More Than $3 Billion

    From wsj.com

    UBS Group AG agreed to take over its longtime rival Credit Suisse Group AG for more than $3 billion, pushed into the biggest banking deal in years by regulators eager to halt a dangerous decline in confidence in the global banking system. The deal between the twin pillars of Swiss finance is the first megamerger of systemically important global banks since the 2008 financial crisis when institutions across the banking landscape were carved up and matched with rivals, often at the behest of regulators. The Swiss government said it would provide more than $9 billion to backstop some losses that UBS may incur by taking ... (full story)

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    Reportedly UBS agreed to acquire Credit Suisse for ~CHF2B; Swiss National Bank (SNB) has offered...

    From @Trade_The_News|39 hr ago

    tweet at 1:11pm: $CSGN.CH *Reportedly UBS agreed to acquire Credit Suisse for ~CHF2B; Swiss National Bank (SNB) has offered ~$100B liquidity line to UBS as part of any deal for Credit Suisse - press (Credit Suisse Group AG) (More at https://t.co/POY7QOYzdF)

    Credit Suisse’s Riskiest Bonds Jump Amid Optimism Over UBS Talks

    From bnnbloomberg.ca|39 hr ago|1 comment

    Credit Suisse Group AG’s riskiest bonds pared their advance on Sunday on concern that Swiss authorities may need to nationalize the bank if a deal with UBS Group AG falls through. ...

    AI Market Outlook for March 20, 2023

    From youtube.com/vantagepointai|46 hr ago|2 comments

    •   Newer Stories
    Joint Statement by the Department of the Treasury and Federal Reserve

    From home.treasury.gov|36 hr ago|9 comments

    The following statement was released by Secretary of the Treasury Janet L. Yellen and Federal Reserve Board Chair Jerome H. Powell: “We welcome the announcements by the Swiss ...

    Statement by Christine Lagarde, President of the European Central Bank, on the announcement on 19...

    From ecb.europa.eu|36 hr ago

    “I welcome the swift action and the decisions taken by the Swiss authorities. They are instrumental for restoring orderly market conditions and ensuring financial stability. The ...

    Bank of England statement: Credit Suisse

    From bankofengland.co.uk|36 hr ago

    We welcome the comprehensive set of actions set out by the Swiss authorities today in order to support financial stability. We have been engaging closely with international ...

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  • Story Stats
  • Posted: Mar 19, 3:08pm (37 hr ago)
  • Submitted by:
     Newsstand
    Category: High Impact Breaking News
    Comments: 0  /  Views: 1,986
  • 1 member viewing:
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    From apnews.com|36 hr ago|1 comment
    Reportedly UBS agreed to acquire Credit Suisse for ~CHF2B; Swiss National Bank (SNB) has offered...
    From @Trade_The_News|39 hr ago
    Credit Suisse’s Riskiest Bonds Jump Amid Optimism Over UBS Talks
    From bnnbloomberg.ca|39 hr ago|1 comment
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